A current market analysis (CMA) can provide valuable insight into a home’s market value. See the last page of this book for information on how to request a free home valuation.
EXAMPLE OF DIFFERING HOME VALUATIONS
Consider a buyer interested in a home listed at $820,000. An online valuation estimates the home’s worth at $880,000. Based on that estimate, the buyer offers the asking price, believing it to be a fair deal. The home was listed at $820,000 because, at that price, it was expected to sell within a reasonable timeframe. However, the final selling price does not necessarily reflect the home’s true market value. Factors such as nearby undesirable businesses or the condition of the property may impact the price. Online valuations cannot account for neighborhood characteristics, property conditions, or market demand. In contrast, professional appraisers and real estate agents analyze legal descriptions, on-site inspections, comparable home sales, and other influencing factors like proximity to industry, traffic levels, or future development potential. A CRITICAL PART OF SELLING YOUR HOME FOR MORE IS YOU There is no single, definitive way to determine a home’s value. Differences may exist between the seller’s perceived value, the listing price, and the final sale price. A market in which homes typically sell within six months of listing is considered balanced. In this scenario, neither buyers nor
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